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Bristol Uni creates new investment fund
Investors are being called to contribute to the University of Bristol Enterprise Fund, designed to support young science and technology companies arising from the university’s research.
Utilising the government’s Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) – policies aimed at boosting economic growth in the UK by promoting new enterprise and entrepreneurship – it offers tax reliefs to individuals who purchase new shares in those companies at the same time.
The move, which builds on the university’s reputation for creating high-tech companies, helps turn research into real-life businesses. Companies born out of local research include Inductosense Ltd, a company developing wireless sensors to detect cracks and defects; Pertinax Pharma Ltd., which extends the duration of antimicrobial protection; and Ultrahaptics, which has secured £10.1m investment to use ultrasound technology to turn your hands into mid-air controllers without the need for gloves or sensors.
“The Enterprise Fund is an important new source of funding for our young companies, and is an excellent way for Bristol alumni and friends to support the University,” said Sue Sundstrom, Head of Commercialisation & Impact Development at the University of Bristol. “We look forward to spinning out further successes.”
It is an extension of existing advice and support provided by the University’s commercialisation team and from SETsquared, Bristol’s award-winning business incubator.
Professor Hugh Brady, Vice-Chancellor and President of the University of Bristol, said: “This fund will catalyse the University’s creation of – and SETsquared’s support for – exciting, technology-based companies by enabling individuals to invest alongside institutional investors, helping nascent entrepreneurs realise early steps towards a successful company.”
Bristol is the third higher education establishment in the country to offer such a facility, after Oxford and Cambridge. Particular interest is expected from alumni and people linked with Bristol. It will be managed by London-based investment firm Parkwalk Advisors, which manages a series of specialist funds investing in the UK early-stage technology sector.
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